THE LATEST CRYPTO NEWS

A strong outlier in the current market situation, Monero (XMR) moves against the broader downturn that plagues the market. According to CoinGecko, Monero gained nearly 13% since last week, putting the coin under the spotlight as one of the strongest gainers within the bear market.  Related Reading: RENDER Flashes Red With 18% Short-Term Loss – Details Monero’s simplicity lends itself to its focus on privacy and reliability, providing great value for both investors and users of the platform. This led to Monero’s semi-autonomous price movement which might continue despite the market’s bearish nature.  Monero Utilization Jumps On CoinCards CoinCards, a gift card vendor, recently released some statistics about cryptocurrency use on its platform. According to the platform, Monero has the monopoly beating Bitcoin in utilization. This huge utilization is due to Monero’s simplicity and utility, garnering the attention of analysts on X.  Although the market is overwhelmingly bearish, analysts show bullishness with predictions about XMR’s future performance.  “While everything else looks like pre-death, the privacy coin is making higher lows and higher highs. Complete decoupling from the market,” said Crypto Van Der Linde, a cryptanalyst on the X platform.  Although Binance and Kraken have delisted XMR for their customers, the token still has a large user base that is mostly concerned with their privacy. With more individuals considering privacy to be a core issue, we might see cryptocurrency users using XMR despite its downsides of slow transaction times.  Rally Turns Sluggish As of writing, Monero is well between the $170-$174 trading range giving the bulls a great position for more upside potential. However, the market’s bearishness has bled through to XMR’s market, slowing down gains in the long term.  XMR’s less-than-significant correlation with Bitcoin makes the coin more attractive to investors scouring the market for profit-generating cryptocurrencies within the bearish market. The relative strength index (RSI) shows that although the coin has bullish momentum, XMR bulls are nearing exhaustion in the short term.  Related Reading: SUI Crashes 23% As September Unleashes Market Panic—Is A Comeback Possible? The coin’s trading range is pretty weak as the bears are gathering momentum to cancel out short-term gains. Long-term, however, it seems that XMR bulls will rest and gather momentum before another attempt to regain lost ground.  As it currently stands, XMR eyes a breakthrough on $190 in the short term, providing a support level for the bulls to prepare for a strong upward movement. After this movement, investors and traders can target $200 in the long term.  However, if XMR succumbs to the bearish momentum within the market, the coin might retrace back to $164 with more possible losses in the short term. Featured image from Chainalysis, chart from TradingView

August proved to be one of the toughest months for the crypto market, marked by a significant decline in overall market capitalization, which fell to a six-month low of $1.96 trillion amid what analysts called “Black Monday.”  This downturn saw Bitcoin (BTC) plummet from $68,000 to approximately $49,000, igniting concerns among bullish investors. However, market expert Lark Davis suggests that the choppy sideways price action may soon come to an end, paving the way for a potential surge as bullish factors align for the fourth quarter. Final Opportunity To Buy At Discounted Prices? In a recent social media post, Davis highlighted that the coming 3-4 weeks could represent a final opportunity for investors to acquire their favorite cryptocurrencies at discounted prices.  Both Bitcoin and Ethereum (ETH) have seen notable declines, with losses of 6.7% and 5.7%, respectively, over the past week. Among the cryptocurrencies that Davis identifies as particularly attractive, Solana (SOL) fits the bill as it is currently trading at around $129, down nearly 16% over the same period. Related Reading: Solana Sees 7,600% Surge In Institutional Inflows, Here’s Why Despite these tempting prospects, historical data shows that September is typically a challenging month for BTC. Analysis shows that in six of the last seven years, Bitcoin has finished September in the red, with an average loss of around 4.5%.  If this trend continues, some analysts predict that Bitcoin could fall to around $55,000 by the end of the month. This could have a ripple effect throughout the cryptocurrency market, as other tokens often mirror Bitcoin’s price movements. A Key Catalyst For Crypto Market Recovery Adding to the complexity of the current market landscape are upcoming interest rate decisions that could significantly affect Bitcoin’s short-term volatility and long-term trajectory, as Bitcoinist reported on Monday.  Per the report, a potential 25 basis point cut by the Federal Reserve may signal the beginning of an easing cycle, potentially increasing liquidity and promoting long-term price appreciation for Bitcoin. On the other hand, a 50 basis point cut could trigger an initial price spike, followed by a correction as recession fears resurface. Bitfinex’s recent report warns that a rate cut could lead to a 15-20% decline in Bitcoin’s price, with projections suggesting a bottoming out between $40,000 and $50,000.  Related Reading: Crypto Analyst Predicts XRP Surge To $18 In Third Elliott Wave Phase Despite the potential for short-term volatility, a notable bullish development could support Davis’s optimistic outlook. The anticipated distribution of $16 billion in cash from FTX to its customers may inject significant capital back into the market.  Analysts believe that a significant portion of this payout will likely be reinvested in cryptocurrencies, including Bitcoin and Solana, creating significant buying pressure for the last part of the year. Ultimately, the potential influx of capital from the FTX distribution, combined with the expected cyclical surge in the crypto market in the year of the Bitcoin Halving event, could lead to significant gains for various tokens and an overall increase in market capitalization.  Featured image from DALL-E, chart from TradingView.com

Bearish sentiment remains supreme in the market today as RENDER flashes red, losing more value on the weekly timeframe. According to CoinGecko, the token bled by 18% since last week, continuing the bearish market consensus. With the market continuing to underperform, the altcoin might be on the pain train in the next couple of weeks. Related Reading: SUI Crashes 23% As September Unleashes Market Panic—Is A Comeback Possible? However, the market has shown signs of a possible flip in sentiment with Bitcoin and Ethereum retesting their crucial resistance levels in the short term. But with a macro-packed week alongside the broader market’s optimism, the upside potential for the crypto remains stunted in the short term if the market continues to fall.  $5.1 Resistance Crucial For Long-Term Gain As of writing, the token is struggling to retake lost ground against the bulls in the short term. The coin is currently trading between the $3.3-$5.1 trading range, a pretty wide range leaving space for both the bulls and bears to maneuver. In the short term, the bears have the advantage by a small margin.  The token’s relative strength index (RSI) shows that the bulls are gathering momentum for a medium-term swing with a breakthrough on the $5.1 resistance level occurring within the next few weeks. However, the current timeline for the altcoin remains blurry as the market’s volatility hinders altcoins from making semi-autonomous movements.  As of press time, the broader crypto market has fallen by 10 basis points after rising by nearly a percent a couple of hours ago. This volatility coupled with investor FUD will continue to hinder its upside in the near future. For now, investors should exercise caution as the week might be more rocky for the broader market.  Render: Macroeconomic Indicators As Focal Points This Week Multiple labor indicators will be released this week by the  US Bureau of Labor and Statistics with investors optimistic that the United States economy will have a soft landing. The labor market has been scrutinized as it was one of the primary factors the August selloff occurred.  Forecasts for the payroll indicators are surprisingly optimistic. The Nonfarm Payroll forecast is 164k from the previous 112k, indicating that the market sees a future rate cut.  Related Reading: NEAR Investors Hope New Projects Will Help Coin Rebound From 21% Loss If this week’s macro indicators flash bullish, the market will see renewed strength with capital returning to cryptocurrencies in the long run. Investors are also eyeing the consumer price index (CPI) releases next week which will signal whether the US Federal Reserve will cut or keep the current rates. Market indices are bullish with the S&P 500 and Dow Jones up by a couple of percentage points in the short term.  Featured image from Pexels, chart from TradingView

While the market has rebounded following a poor start to the month in September, some altcoins are still struggling with the leftover bearishness. NEAR continues with the list of altcoins that keep up their losses even as the majors, including Bitcoin and Ethereum, recover from their respective slumps. According to CoinGecko, the token fell by 21% since last week despite the market’s 3%uptick today.  Related Reading: SUI Crashes 23% As September Unleashes Market Panic—Is A Comeback Possible? Although NEAR is underperforming, developments on-chain continue to offset the market’s bearishness. One of the most notable developments on NEAR is Libre Capital offering tokenized real-world assets (RWAs) on chain, bringing institutional interest to the platform  RWAs Create Buzz For The Protocol Libre Capital is a new crypto asset management firm supported by market giants like Brevan Howard, Hamilton Lane, and Nomura’s Laser Digital. It was founded four months ago and has since experienced huge upward momentum. According to Libre Capital Founder and CEO Avtar Sehra, Libre surpassed the $100 million asset under management mark, cementing the firm as one of the fastest-rising crypto asset management companies on the market.  Libre has achieved many milestones since our MVP launch four months ago, surpassing our $100 million aum target and expanding to multiple chains. Launch on @NEARProtocol marks a crucial step towards our multichain wealth strategy. Learn more here: https://t.co/dGCqKENTXu — Avtar Sehra (@avtarsehra) September 2, 2024 NEAR and Libre’s partnership will enable NEAR users to access tokenized versions of RWAs. As of writing, users have access to Hamilton Lane’s credit Fund, Brevan Howard’s Master Fund, and Blackrock’s ICS Money Market Fund, bridging the gap between crypto and the traditional finance space.  According to Sehra, the launch of Libre on NEAR is “a crucial step towards our multichain wealth strategy” which hints at future support for more blockchains other than NEAR. But for now, this development might help bring in more institutional investors on the platform.  NEAR On Goldilocks Zone Trading Range As of writing, the bears experienced a strong rejection on the $3.8 price floor giving the bulls time to regroup and bounce. NEAR is now trying to stabilize between the $3.8-$4.3 trading range, allowing investors and traders to target $5.2 in the long term.  Related Reading: Ripple Unleashes 1 Billion XRP: Could This Trigger A Price Tsunami? NEAR continues to experience a strong bearish momentum in the short term, but the bulls have since gathered enough momentum to cancel out the token’s decline. The problem now is when will NEAR have enough push to break through $4.3 in the medium term.  The relative strength index (RSI) suggests that the token might experience a period of low volatility where the bears and the bulls will have an equally strong momentum. But after this, NEAR will have enough push to drive the bears out of the market, breaking through $4.3 in the medium term before settling on the $4.3-$4.7 trading range. However, this price movement is completely dependent on the broader market momentum. If Bitcoin and Ethereum continue to struggle, NEAR will have a lot of ground to retake if the bears succeed in breaking through $3.8. Featured image from Electromechanical Contractor Philippines, chart from TradingView

The Artificial Superintelligence Alliance (FET) has seen a remarkable performance in the last two weeks. Amid the latest market shakeouts, the AI crypto token saw a significant increase, surging over 60% a week ago. In the last 24 hours, the token has recorded a 4% price surge, retesting a crucial resistance level that could propel the price near its all-time high (ATH). Related Reading: Toncoin (TON) Price Action Signals 30% Crash After Losing A Key Level FET Sees 30% Monthly Surge FET showed a formidable price action throughout August despite the market retraces, seeing a 30% surge in the last 30 days. The ASI alliance token saw a 49% increase in the past two weeks and recovered above pre-Black Monday levels during this timeframe. Additionally, it saw a massive surge in trading volume, price, and whale activity a week ago when the FET’s on-chain developments fueled the bullish momentum by over 60%. The drive pushed the cryptocurrency’s price to a high of $1.46 on Tuesday, a level not seen since mid-July. Nonetheless, the market jitters halted FET’s rally, sending the price to a biweekly low of $1.06. The token retested the $1.20 resistance level over the weekend, unsuccessfully reclaiming it but holding above the $1.10 price range. This performance has been highlighted by several market watchers, who noted that the token has held effectively above the $1.17 support level. This level was retested and maintained since late February when the token’s leg up drove the price to its March ATH of $3.45 but was lost as July closed. Analysts Suggest Key Levels To Watch Some market watchers noted that FET recently broke out of crucial horizontal levels. The token has been in a multi-month falling wedge pattern and registered multiple touchpoints within the upper and lower trendlines. According to Crypto Yapper, some key horizontal levels have come into play in the past month. The token bounced from the “huge” $0.8 support area a few weeks ago. This level was deemed an “interesting accumulation zone” by the analyst. Since then, FET has seen a significant jump, breaking out of the falling wedge pattern. Following the breakout, it has attempted to turn the next horizontal resistance level into a support zone. Per the analyst, if the $1.17 level holds strong, the cryptocurrency could move to the next big resistance in the $1.7 area. “Then we can continue the bullish uptrend, and eventually, the top side of the formation will be confluent with the breakout target, which will be around $3.4,” he further explained. Conversely, other analysts have cautioned that the token remains in a bearish market structure. According to Altcoin Sherpa, FET is attempting to form a higher low, which will need to be followed by a higher high to continue the uptrend. Related Reading: Bitcoin At Risk Of Continued Selling Pressure Amid Market Volatility, Here’s Why To Sherpa, if the token achieves this, it will have “bottomed in the short term.” Additionally, he set the $1.5 price zone as a “super key level” for further bullish price action. FET hovered between the $1.1-$1.21 price range in the last 24 hours, holding above the key support level throughout Monday morning. As of this writing, the token is trading at $1.2, a 4% daily surge. Featured Image from Unsplash.com, Chart from TradingView.com

During the last few days, a significant development has emerged as Solana (SOL) whales—large-scale investors known for their substantial influence on market trends—have started to redirect their investments towards a rising star in the crypto sphere: Mpeppe (MPEPE). This shift has caught the attention of many, raising questions about the future of Solana and the growing appeal of Mpeppe. The Rise and Fall of Solana Solana (SOL) has long been hailed as one of the most promising blockchain projects, offering lightning-fast transaction speeds and low fees, making it a favorite among developers and institutional investors. Solana’s ecosystem has flourished, with a plethora of decentralized applications (dApps) and decentralized finance (DeFi) platforms being built on its network. This success propelled Solana to the forefront of the crypto market, with its price reaching unprecedented heights in 2021 and 2022. However, 2024 has been a year of mixed fortunes for Solana. Despite its technological strengths, the market has become increasingly competitive, with new projects vying for attention and capital. While Solana continues to be a powerhouse in the blockchain space, its price has faced downward pressure in recent months, exacerbated by a broader market correction and a growing sense of market saturation. Whales Change Course In a surprising turn of events, several Solana (SOL) whales have begun reallocating their investments towards Mpeppe (MPEPE), a relatively new but rapidly growing cryptocurrency. Whales, known for their ability to sway market trends due to the sheer volume of their holdings, are often seen as trendsetters. Their movement towards Mpeppe is a strong indicator that this new token is garnering serious attention. So, what’s driving these whales to make the switch? Mpeppe (MPEPE): Attracting Solana Whales  Mpeppe (MPEPE) has emerged as a formidable competitor in the crypto market, offering a unique blend of utility and community engagement. Unlike many meme coins that rely solely on hype, Mpeppe has carved out a niche with its dual focus on decentralized finance (DeFi) and gambling utilities. This innovative approach has resonated with a wide range of investors, from retail traders to institutional players. One of the key factors attracting whales to Mpeppe is its strong community support, which has been instrumental in driving its rapid growth. The project has successfully harnessed the power of social media and online forums to build a loyal following, while also delivering on its promises with a series of successful presales and strategic partnerships. Moreover, Mpeppe’s tokenomics are designed to reward long-term holders, making it an attractive option for whales looking to maximize their returns. The token’s deflationary model, combined with its utility in both DeFi and gambling platforms, offers a compelling value proposition that is hard to ignore. Impact on Solana (SOL) The shift of capital from Solana to Mpeppe has had a noticeable impact on SOL’s price. As whales begin to divest from Solana, the token has experienced increased selling pressure, contributing to a recent decline in its market value. While Solana remains a robust platform with a strong user base, the loss of whale support could signal a period of price stagnation or further declines, especially if other investors follow suit. This does not necessarily spell doom for Solana. The platform’s technological advantages and established ecosystem still provide a solid foundation for future growth. However, the current market dynamics suggest that Solana will need to innovate and adapt to regain the favor of large investors. The Future: A Tale of Two Tokens As we move further into 2024, the crypto market is likely to continue experiencing fluctuations, with new projects like Mpeppe (MPEPE) challenging established players like Solana (SOL). For investors, this presents both opportunities and risks. While Solana’s long-term potential remains intact, the immediate outlook is less certain as it faces stiff competition from newer entrants. On the other hand, Mpeppe is positioned to capitalize on its recent momentum, especially if it can continue to attract whale investors and deliver on its ambitious roadmap. For those looking to diversify their portfolios, Mpeppe offers an intriguing alternative with the potential for significant upside. Conclusion The migration of Solana (SOL) whales towards Mpeppe (MPEPE) is a clear indication of shifting market dynamics in the cryptocurrency space. While Solana’s technological prowess and established ecosystem make it a strong contender, the allure of Mpeppe’s innovative approach and strong community support is proving hard to resist for many large investors. As these two tokens continue to evolve, they represent the broader trends at play in the crypto market—where innovation, community engagement, and strategic positioning are key to success. Investors would do well to keep a close eye on both Solana and Mpeppe as they navigate the challenges and opportunities of 2024. Whether you’re a whale or a small-scale investor, understanding these market shifts will be crucial in making informed decisions in this rapidly changing landscape. For more information on the Mpeppe (MPEPPE) Presale:  Visit Mpeppe (MPEPPE) Join and become a community member:  https://t.me/mpeppecoin https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

FLOKI millionaires, who have made significant gains with Floki Inu (FLOKI), have added a new memecoin, Mpeppe (MPEPE), to their MoonBag portfolio. Mpeppe (MPEPE) is gaining traction for its unique approach and high-growth potential, offering a potential 100X return. The millionaire’s portfolio is a testament to their success in the cryptocurrency space. The Appeal of Memecoins: Why FLOKI Millionaires Are Eyeing Mpeppe (MPEPE) Memecoins like Floki Inu (FLOKI) have captivated the crypto community with their playful branding and viral marketing strategies. These tokens often leverage internet culture and memes to drive value and attract a broad audience. However, as the market evolves, new contenders like Mpeppe (MPEPE) are emerging, offering not just meme appeal but also substantial growth potential. For Floki Inu (FLOKI) millionaires, Mpeppe (MPEPE) represents the next big opportunity in the memecoin space. Excitement and Risk: The Thrill of Investing in Mpeppe (MPEPE) One of the reasons Mpeppe (MPEPE) is attracting attention from seasoned investors is the excitement and risk that come with investing in meme cryptocurrencies. Like Floki Inu (FLOKI), Mpeppe (MPEPE)’s value is driven by its community, branding, and viral marketing. However, the speculative nature of Mpeppe (MPEPE) adds an extra layer of thrill, especially for those looking to maximize their returns in a short period. The potential for 100X gains is not just a dream but a real possibility in the volatile world of memecoins. Viral Influence: How Mpeppe (MPEPE) Is Capturing the Crypto Community’s Attention Mpeppe (MPEPE) has mastered the art of using memes and internet culture to create a buzz around its token. This viral influence is crucial in the world of cryptocurrencies, where attention and hype can drive significant value. Just as Floki Inu (FLOKI) rode the wave of viral marketing to success, Mpeppe (MPEPE) is following a similar path, capturing the imagination of investors and gamblers alike. This buzz is not only driving Mpeppe (MPEPE)’s adoption but also extending its influence into the online gambling space. Mpeppe (MPEPE) Casino: Instant Rewards and Enhanced Gaming Experience One of the standout features of Mpeppe (MPEPE) is its integration into the online gambling industry. The Mpeppe (MPEPE) Casino leverages $MPEPE and other cryptocurrencies to deliver an enhanced gaming experience. Players can enjoy the thrill of gambling while also earning instant rewards, thanks to the platform’s use of fast and efficient cryptocurrency transactions. This innovative approach not only attracts gamblers but also adds utility to the Mpeppe (MPEPE) token, making it more than just a speculative asset. The Role of Memecoins in Online Gambling: A New Era of Entertainment Memecoins like Mpeppe (MPEPE) and Floki Inu (FLOKI) are changing the landscape of online gambling. Their playful and viral nature adds an element of excitement and risk to the gaming experience, attracting a new generation of gamblers who are eager to try their luck with these volatile tokens. Mpeppe (MPEPE)’s ability to deliver instant rewards and enhance the gaming experience sets it apart from traditional gambling platforms, offering something truly unique to players and investors alike. Conclusion: Mpeppe (MPEPE) – The Next Big Thing for Memecoin Investors Mpeppe (MPEPE) is a promising token in the evolving memecoin market, offering potential for 100X gains due to viral marketing, community support, and real-world utility in online gambling. As it gains traction, it’s worth watching for potential returns, making it a valuable addition to any investor’s portfolio, whether seasoned or new to the crypto space. For more information on the Mpeppe (MPEPE) Presale:  Visit Mpeppe (MPEPE) Join and become a community member:  https://t.me/mpeppecoin https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

LayerZero (ZRO) is under renewed selling pressure, with its price sliding toward $3.19 after being rejected at a key trendline. The sharp downturn has shifted market sentiment to a more bearish outlook, sparking concerns about deeper declines. With bears seemingly in control, all eyes are on whether ZRO can find support or if it will continue to drop. This article aims to analyze the recent bearish move of ZRO following a trendline rejection, as the price tumbles toward the critical $3.19 level. We’ll explore the key technical indicators, market dynamics, and potential scenarios to provide traders and investors with insights into whether the bearish trend will continue or if a recovery might be on the horizon. As of the time of writing, LayerZero is trading around $3.73, marking a 5.94% decline, with a market capitalization of over $410 Million and a trading volume exceeding $100 million. In the past 24 hours, ZRO’s market cap has decreased by 5.99%, and its trading volume has dropped by 0.57% Market Sentiment Shifts: LayerZero Set For Further Declines On the 4-hour chart, following a successful trendline rejection, LayerZero has continued to gain negative momentum, dropping below the 100-day Simple Moving Average (SMA) toward the $3.19 support level. The digital asset has maintained a steady downward move, indicating that the bears are in control and could push the price even lower. Also, the 4-hour Relative Strength Index (RSI) analysis reveals that the signal line has dropped below 50% toward 35%, indicating a pessimistic market shift. This suggests that ZRO may continue to experience downward movement as momentum builds. On the 1-day chart, after the trendline rejection, LayerZero shows promising negative signs marked by the formation of a significant bearish candlestick in the previous trading session. The rejection at the trendline indicates increased selling pressure, which could lower ZRO’s price in the days ahead as market sentiment continues favoring the bears. Finally, on the 1-day chart, the RSI signal line has dipped to 47%, slightly falling below the 50% threshold. This decline below 50% indicates that momentum is leaning toward the bearish side and could signal further downside movement in ZRO’s price. Key Levels To Watch: Support Or More Downside For ZRO? As LayerZero continues through its bearish phase, the $3.19 support level becomes crucial in determining its potential for a rebound or further decline. If ZRO holds above this key support, it could set the stage for a rise toward the $4.5 resistance level. Should the price break through this resistance, it may rally, aiming for the next resistance point at $5.6 and potentially reaching even higher levels. However, if the $3.19 support level fails to hold and the price breaks below this threshold, the cryptocurrency could face additional declines, potentially moving toward the $2.69 range. A breach of this level might signal a more downward trajectory, possibly testing even lower support levels. Featured image from Adobe Stock, chart from Tradingview.com

Once again generating news is Ripple as the company issued 1 billion XRP coins from its escrow accounts on September 1, 2024. Costing more than $560 million, the release has caused waves in the digital currency market. Related Reading: Market Slip Drags Injective Down 16% Despite Ongoing Developments First, 500 million XRP were released in three consecutive phases; next were 200 million and finally 300 million. Every one of the three transactions was completed within minutes, suggesting that Ripple was onto maintaining really good token supply control. Market Reaction To The Unlock The price of XRP did go slightly lower right after the unlock, at $0.55, which is a drop of 2.26% from the previous day. This shouldn’t really be a surprise, given how large-scale releases have time and again proved to affect prices. According to Whale Alert, at 10:50 UTC+8 today, 1 billion XRP were unlocked from the rDqGA…mKxEsF in three transactions, with a value of over $560 million dollars. The address: rDqGA…mKxEsF was marked as an official Ripple address by XRPSCAN and bithomp.… — Wu Blockchain (@WuBlockchain) September 1, 2024 Ripple’s Chief Technology Officer, David Schwartz, has previously acknowledged that mixed feelings when it comes to these monthly unlocks. While this may be an attempt to make the markets more transparent and predictable, in actual sense, such releases serve to inject volatility into the markets. Interestingly, the unlocked tokens remain in the “Ripple 24” wallet, which means there are no immediate plans to further distribute them. That can soften a more severe drop in price since these tokens are not yet on the market. However, analysts warn that the increased liquidity from such tokens may lead to possible sell-offs and further unpredictability of the token’s price in the near future. Historical Context And Predictions Up until now, Ripple had been releasing 1 billion XRP every month, a tradition that started in May 2024, while more than 43 billion XRP remain locked up in escrow until December 2027. In fact, the organization believes its approach will ensure gradual control dilution and further decentralization of its network. Ripple’s willingness to sell has recently drawn investors’ attention because such sales affect XRP’s price. Analysts are still divided about what could be the future of XRP. A few believe there could be a spike, similar to the exponential jumps in price that were seen in 2020, while others anticipate a flat, if not, stagnant trajectory. Related Reading: TIA Down 23% In A Week, As Investors Eye New On-Chain Projects Wider Ramifications For The Crypto Market Were XRP to break out from the shackles of its current trading patterns, some estimates put it as high as $4. This optimism is predicated on market demand and overall resilience in the crypto market. What Ripple is doing has effects that could spread well beyond just XRP in the market. More broadly, cautious optimism continues to define the crypto market while many investors remain in wait-and-see mode until clearer signs of an altcoin season materialize. Featured image from Nature, chart from TradingView

Three major crypto exchanges teased the launch of new Solana-based products. The trading platforms shared mysterious hints on their official X accounts, suggesting their entry to Solana’s Liquid Staking ecosystem. The news received a positive reaction from the crypto community, seemingly fueling a bullish sentiment among SOL investors. Related Reading: TON-Based Memecoin DOGS Becomes Top 100 Largest Gainer With 30% Jump Exchanges Hint At New Solana-Based Products On Thursday, crypto exchanges Binance, Bybit, and Bidget created a buzz among crypto investors after hinting at the launch of new Solana-based products. Binance, the largest crypto exchange by trading volume, was the first to announce the mysterious partnership with two X posts stating “BNSOL,” and “Coming soon.” The crypto community quickly speculated about the meaning of the post, wondering about the collaboration. Soon after, Bybit and Bitget posted similar messages. Bybit stated it was “welcoming a new baby to the family” named bbSOL, while Bitget teased that “something BG is coming #BGSOL.” Despite not having further details, the community concluded the exchanges will launch Liquid Staking Tokens (LSTs), based on Sanctum’s comments. The Solana-based Liquid Staking Protocol replied to the news, hinting at its involvement in the project. In a reply to Bybit’s post, the Liquid Staking protocol said it was “ready to help this bbSOL grow big and strong.” This suggests that the exchanges are entering the Solana Liquid Staking ecosystem. The BNSOL, BGSOL, and bbSOL LSTs would allow users to stake their tokens and receive rewards while continuing to participate in other DeFi projects. The tokens would offer investors flexibility, as they would have access to liquidity without unstaking their tokens. Major Boost For SOL Price Coming? Following the announcements, the crypto community expressed a positive sentiment towards SOL. Many shared their excitement about the products, calling them “bullish” for the Solana ecosystem. Meanwhile, others suggested that positive competition was brewing in Solana’s Liquid Staking sector. The bullish sentiment seemingly translated to CLOUD, Sanctum’s governance token. The Liquid Staking protocol’s token soared 56% following the announcement. CLOUD saw a massive surge from the $0.16 price range to the $0.25 mark before stabilizing above the $0.24 level. Similarly, some community members noted that the crypto exchanges appear to see significant potential in SOL’s performance. SOL quickly surged to the $147 range, a 4.2% increase from Wednesday’s lows. Despite the positive sentiment, the price retraced to the $145 support zone before unsuccessfully retesting the daily high a second time. Nonetheless, investors believe that the recently announced tokens could bring a significant inflow of liquidity as the crypto exchanges have a massive user base. Moreover, the TSLs could accelerate Solana’s Liquid staking sector’s expansion and boost its adoption by retail users. The fifth-largest cryptocurrency by market capitalization had its price recovery halted by the most recent market shakeout. SOL’s price lost the $160 support zone and revisited the $140 level as Bitcoin slipped to $58,000 two days ago. Related Reading: RENDER Soars 30% In A Week, Here’s Why Experts Forecast A Massive Pump As a result, some market watchers remain cautious about the token’s short-term performance but suggest that SOL might aim for new heights in the coming months. As of this writing, the cryptocurrency trades at $145, a 2% increase in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com

In a thread shared with his 538,000 followers on X, crypto analyst Miles Deutscher highlights the vital importance of retail investors to the sustainability of the crypto bull market. To understand the possible return of the crypto bull run, Deutscher believes it is essential to understand what has happened in recent years. Deutscher recalls the substantial rally from March 2020 through November 2021, highlighting the extreme gains made across various altcoins. Understanding The Crypto Bull Run Dynamics “From March 2020 until November 2021, the crypto market rallied 2,672%, with many alts pulling 50-100x+ multiples,” Deutscher states, pointing to a period characterized by significant financial stimulus and increased public interest due to global lockdowns. However, the glory days were short-lived, as Deutscher pointed out, marking the peak of the market in November 2021 followed by a steep decline. The downward spiral was accentuated by the LUNA & UST collapse in May 2022, which not only erased significant market value but also exacerbated the decline across the broader crypto market. “Crypto technically topped in November 2021. But it wasn’t until May 2022 that crypto would be delivered its final death blow: The LUNA & UST collapse,” he explained, illustrating the precariousness of crypto investments during that period. Related Reading: Signs Of A New Crypto Winter? Warren Buffett’s $1 Billion Stock Sales Spark Market Crash Fears The aftermath of these events led to a widespread exodus of retail investors, who were either financially devastated or disillusioned by the dramatic downturns. “If you were burnt financially, you left. If you weren’t burnt financially, you still left (price/time capitulation),” Deutscher explains, capturing the deep-seated anxiety that permeated the retail investor base following the market’s collapse. Despite the challenging environment, 2023 ushered in a new wave of optimism with significant institutional movements, notably BlackRock’s application for a Bitcoin spot ETF in June, which was later approved. “On the 16th of June, BlackRock applied for a Bitcoin spot ETF […] This not only signaled a positive catalyst on the horizon but a paradigm shift in the way BTC was being viewed by major institutions,” Deutscher highlighted, pointing to a critical moment that potentially marked the beginning of a new era for Bitcoin and possibly the broader crypto market. As of January 2024, the crypto market had seen a surge in Bitcoin prices, reaching new all-time highs following the successful launch of the ETF. “Over $17b has flowed into the BTC spot ETFs so far this year,” Deutscher notes, underscoring the significant impact of institutional investment on Bitcoin’s valuation and the broader market sentiment. However, Deutscher tempers expectations regarding the altcoin market, which has not seen parallel success. The lack of a similar rally in altcoins is attributed by Deutscher to the new market dynamics introduced by the ETF, which altered traditional liquidity flows and investment patterns. “The primary driver of this cycle has been the BTC ETF. This is vastly different from the last cycle, where the primary driver was macro conditions,” he remarks. When Will The Bull Run Return? Looking ahead, Deutscher speculates on the conditions that might entice retail investors to return. He emphasizes the critical role of Bitcoin achieving new all-time highs, suggesting that Bitcoin reaching or surpassing $100,000 could ignite renewed interest across the crypto sector. “Yes, many of the aforementioned issues like altcoin dispersion would still exist, but it would definitely pave over some cracks. A BTC rally = media attention, people front running an altcoin rotation, renewed optimism,” he added. Related Reading: New Memecoin Popcat Claws Its Way Up, Dominates Top 100 Cryptos With 62% Rally Deutscher also highlights the natural inclination of humans towards gambling, noting that the thrill of high returns might quickly attract retail investors back to the market if altcoins show sustained rallies. He referenced the Pareto principle to remind followers that significant market gains often occur late in the investment cycle. “80% of gains in a bull market come in the last 20%, of the move. Retail joins the party late. We simply may just be too early (in terms of cycle duration we comparatively still are), Deutscher states. Additionally, he points to the potential of emerging technologies in AI, gaming, and decentralized finance (DeFi) to create compelling new use cases for crypto. He suggested that just a few successful applications could drive widespread adoption, fostering a more sustainable interest in the crypto market. Because of that Deutscher remains optimistic about the return of retail investors. He concludes, “so in conclusion, yes – retail is (mostly) gone. There are valid reasons why, and this cycle is fundamentally different because of them. But it won’t take much for retail to return. And that day may be sooner than you think.” At press time, BTC traded at $59,650. Featured image created with DALL.E, chart from TradingView.com

It’s a surprising performance for XRP in the crypto market today, alone spiking over 7% during the weekend rally led by Bitcoin’s attempt to breach the $65,000 mark. XRP made a high of $0.6304 but closed a bit lower at $0.6131. Even the slightest drop in this asset seemed to not deter its upward momentum, which continues to gain much attention. Related Reading: FET Explodes 60% After New Project Announcement – Details Analysts are highly positive about the future of the altcoin, estimating a price increase of 25% in the next three months. The top analyst, Bobby A, believes that the value of XRP could go as high as $33. The reason for this projection by experts includes such technical bullish signs and strong momentum in the market. According to Bobby A, the formation of this breakout pattern on the monthly chart may be what XRP needs to drive a substantial price surge once it finally breaks above current resistance levels. An explosive charge ready to go high order. #XRP ⚒️ pic.twitter.com/93zeWYKgSh — Bobby A (@Bobby_1111888) August 24, 2024 His initial target is $0.8722, which was a 45% increase from its current price of $0.6014. Achieving this target would confirm a transition from a long-term bearish trend into a bullish one, setting the stage for further gains. This far-reaching milestone would not stop Bobby A from surmising that the cryptocurrency will surely aim for higher targets, including $1.34 and $1.72, once it picks up momentum. Short-Term And Medium-Term Outlook Projections for Bobby A go beyond the short term. After the coin has broken above $0.8722, it is projected to gun for targets of $1.34 and $1.72, respectively. These are both key resistance areas that XRP has to break for it to establish a new bullish trend. The path to these targets is not going to be smooth, though. Several resistance levels, all the way up to the previous all-time high above $3, were identified that XRP will have to break before ever reaching those targets. To add to the positive view, another crypto analyst with the alias DustyBC pointed out that XRP was forming a symmetrical triangle in its chart. A consolidation pattern would slope the upper trendline downwards and the lower trendline upwards. According to DustyBC, if XRP manages to break out of this symmetrical triangle above the upper trendline, it could be interpreted to mean that the price is due for a major surge. This breakout might be needed to drive XRP up higher. Related Reading: Dogecoin Rally: Over 70% Of Holders Enjoy Profit As Memecoin Climbs 9% XRP Long-Term Projections Looking forward further, the prospects of XRP are still decent in the long run. In another three months, it could appreciate by 24.97%, as CoinCheckup projects, driven by technical indicators that reflect strong momentum. Its six-month forecast is simply explosive, provided that it stays consistent at 160% growth, reflecting robust bullish sentiment among traders. The one-year projection comes in at almost double, at 99%. These long-term projections set the stage for possible large upward movements of XRP. When considering the long-term gains, it looks like XRP will be one of the most promising investments with large potential growth. The recent performance and analysis by key experts do present promising prospects for XRP. Forecasting bullish and indicating enormous potential gains with technical indicators, XRP is bound to make some notable advances over the coming months. Key resistance levels will be important to monitor, with preparation in place for potential breakouts as XRP makes its strides in the dynamic crypto market. Featured image from Pexels, chart from TradingView

FET has been red-hot of late and is touting a price increase of over 60% this week, which is greater than some of the bigger cryptocurrency players such as Bitcoin, Solana, and TRON. A big chunk of this upward momentum is hailed directly from Fetch.ai’s new announcements, including a brand-new global Innovation Lab being opened in San Francisco, California, which is going to really push at the boundaries of AI technology. Investors’ excitement has been driven by their ability to become a lab innovation driver, so FET is seen to gain by another 14% and most likely hit $1.537 on September 25, 2024. The Innovation Lab is where early-stage startups could emerge with developing AI agent solutions, and Fetch.ai has earmarked $10 million yearly in support of these projects. Related Reading: Dogecoin Rally: Over 70% Of Holders Enjoy Profit As Memecoin Climbs 9% With probably up to $1 million spending on each project, the lab is sure to be one of the most critical drivers for Fetch.ai’s exponential growth. No wonder that this strategy has unquestionably heated up the price surge as investors await the potential for game-changing developments emanating from this initiative. FET Recovery And Market Sentiment After suffering from intense selling pressure, FET was able to see a bounce with incredible strength. In the past 24 hours alone, FET has added an extra 7% to its gain, setting among the top AI cryptocurrencies. The good thing gets to stand out fully when it comes to the nature of this recovery, all things considered. Other focus projects on AI, such as Near Protocol and Internet Computer, have had it in the red in recent times, having shed 14% in the last 30 days. On the other hand, FET showed resilience in this period by being in the green 43% of the days. Market sentiment towards Fetch.ai is cautiously optimistic. Currently, the Fear and Greed index is 55, which is a Greed sentimentᅳnot too overboard. This would indicate interests in Fetch.ai, though many investors are not getting carried away, and that may prove more sustainable. Related Reading: NEAR: Network Upgrade Gives Token 23% Price Boost – Details Whale Activity And Trading Volume Whale activity has also played a role in the performance of FET recently. A crypto whale has proven to regret a past sale of its FET holdings, Lookonchain reports. The price of $FET has surged 70% in the past 7 days! A whale seemed to regret selling before and spent 2.385M $USDT to buy 1.79M $FET back from #Binance at a higher price of $1.33 6 hours ago This whale sold 2.33M $FET for 2.385M $USDT at $1.02 from Aug 11 to Aug 23.… pic.twitter.com/SNIbPrNp0z — Lookonchain (@lookonchain) August 26, 2024 Over the course of the period beginning on August 11 and ending on August 23, the whale in question unloaded 2.30 million FET for a total of 2.38 million USDT at an average price of $1.02. Particularly noteworthy is the fact that the same whale repurchased almost 1.80 million FET at an average price of $1.33, which demonstrates his confidence in the viability of the asset. Technical Indicators And Future Outlook Fetch.ai is currently Neutral technically, according to CoinCodex. However, the current-forecast price gap is promising: By September 25, 2024, FET should rise 14.23%. This projection and market sentiment suggest investors may consider buying Fetch.ai. Featured image from Pexels, chart from TradingView

NEAR has continued to rally despite the market slipping by 2% today. According to CoinGecko, NEAR, the native token of the platform, achieved almost 23% gains since last week. This is largely due to positive on-chain developments, showing that the altcoin has enough muscle to remain in its current position within the market. Related Reading: Dogecoin Rally: Over 70% Of Holders Enjoy Profit As Memecoin Climbs 9% Just recently, NEAR announced that Nightshade 2.0, NEAR’s touted “novel sharding design”, was deployed on the platform’s mainnet, improving the already robust and reliable system users have been enjoying for years.  Nightshade 2.0 Brings New Light To The Validators According to a recent blog post, network upgrade have brought in stateless validation, the new sharding architecture for the protocol. This new architecture improved upon the single-shard performance of the network. NEAR already has six shards deployed on the network with a target of ten by the end of the year.  It also lowers hardware requirements to become a validator. Nightshade 2.0 improved the validator experience by omitting the need to track all of NEAR’s shards, stimulating the growth of the validator side of the crypto.  “In particular, the new sharding implementation paves the way to significantly increase the coin’s already-fast transaction throughput,” said Bowen Wang, Head of Protocol at NEAR One. According to Illia Polosukhin, Co-Founder of NEAR Protocol and the CEO of the NEAR Foundation, the network upgrade fixes “the fundamental bottleneck issue on most L1s of how to scale while preserving both usability and security.” Rejection Candle Forms Marking Start Of NEAR Correction Phase With the market’s slippage on today’s trading activity, NEAR is currently trading on a red candle as the token is rejected by the $5.2 ceiling, flipping the momentum to the bears in the short term. This will make losses inevitable in the short term.  Related Reading: Injective (INJ) Skyrockets 21% As Proponents Weigh In On New Developments With the market dip flipping the momentum to the bears, it will continue to affect the crypto’s performance if the bearishness continues. However, NEAR’s recent developments might slow the fear, uncertainty, and doubt as the recent development helps network growth in the long term.  Once Nightshade’s effect matures, NEAR will have a solid base for investor confidence to stand on.  Right now, NEAR has two possible paths that it may take in the medium term. If the market rebounds after the current dip, it has the potential to break through $5.7 in the coming weeks. However, if the dip continues to worsen by the day, NEAR might return to $3.8 with the worse-case scenario being at $3.0 if the situation worsen.  For now, investors should be cautious by monitoring the market’s broader movement as any swing can affect the altcoin’s performance.  Featured image from Rebank, chart from TradingView

Crypto analyst Javon Marks has just highlighted FLOKI as a digital asset that could register an impressive growth. In a post on X, Marks noted that if FLOKI confirms a so-called Hidden Bull Divergence, gains of over 96% can be expected. Related Reading: Bitcoin Floor: CEO Predicts $38,000 Will Be The Lowest BTC Goes This technical pattern implies an upsurge once the FLOKI breaks above $0.000276 resistance. If level breaks up, Marks thinks FLOKI may rise to $0.000546, and with “more room to climb.” That is an overall optimistic view, which aligns with a more comprehensive view given by crypto price prediction platform CoinCodex, projecting its value to increase by 227% by September 22, 2024. Recent Performance And Market Dynamics Despite the recent slump, FLOKI is doing a good job of catching investors’ attention. The token rose 15% in just a week, which could be quite a rally. On the back of this uptick are positive technical indicators, new strategic partnerships, and an anticipated airdrop announcement. Coming off of a recently confirmed Hidden Bull Divergence, sights for $FLOKI (Floki Inu), in response to this divergence is still on an over 96% climb back above the $0.0002761498 target which may only open up even more room for climbing! With a break above this target,… https://t.co/w3iDJDPeZU pic.twitter.com/SSr3iaLB5F — JAVON⚡️MARKS (@JavonTM1) August 22, 2024 These are very positive factors, all brewing a lot of interest around this token, making it one of the more talked-about meme coins of late. FLOKI also experienced turbulence. The crypto market collapse in early August drove the token down 65% from $0.00034 on June 5 to $0.000096. However, its 15% comeback from that level has spurred anticipation of a revival. Airdrop Backed By Binance Boosts Confidence One major development is that Binance will support FLOKI’s upcoming airdrop of the Simon’s Cat token, CAT. Starting August 29, 2024, Binance will snapshot balances for this airdrop eligibility, where approximately 315 billion CAT tokens are given to every wallet with at least 400,000 FLOKI tokens. This airdrop is seen to be strategic in keeping up rewards for the FLOKI community, which faced a bot-ruined presale attempt. This upcoming announcement has fairly been received well. It not only instills confidence in FLOKI but also helps in the process of building trust in the community. The call to avoid the presale and instead go for the free airdrop at least to some level signals adherence to fair play and transparency, which might improve the long-term prospects of FLOKI. Floki: Price Forecast And Investment Outlook Looking further ahead, the price forecast of FLOKI seems quite promising. As per CoinCodex, the price may rise by approximately 227% by September 22, 2024, implying that it can go as high as $0.000489. The current feeling from technical indicators is Neutral, with neither buyers nor sellers in the upper hand driven by this bullish outlook. The fear and greed index reading of 34, which falls under the fear category, suggested that market sentiment remains at bay, probably due to the prevailing volatility. Related Reading: Stacks: New Developments Push STX Price 18% Higher – Details Over the past month, on average, FLOKI has been green 30%, which does not bode well for buyer interest. There have been truly a lot of price swings, given the token’s 17% volatility rate. For investors, this is quite a potential buying opportunity; however, it is not risk-free. It is very important to keep an eye on market conditions and overall sentiment before investment decisions can be made. Featured image from Medium, chart from TradingView

Recent reports claim that Robert F. Kennedy Jr. will drop out of the US presidential race on Friday. The rumors have made PolitiFi tokens rise over 15% on the last day. While tokens inspired by RFK Jr. have plunged, Trump-themed memecoins took the lead with a 40% surge. Related Reading: Dogecoin Soars 6.5% Following Elon Musk’s Post, Is A Breakout Imminent? RFK Jr. To Dropout Of The Presidential Race During this cycle, memecoins have been at the front of the industry, becoming the largest narrative of the first two quarters. Due to the sector’s nature, crypto investors have immortalized the current event through these tokens, including the upcoming November US presidential elections. A candidate’s crypto stance has become a key factor for voters after the Biden administration’s crackdown on the industry. As a result, pro-crypto candidates have received significant support from the community. Robert F. Kennedy Jr. was among the first to share his industry-friendly approach throughout his campaign, endorsing Bitcoin and blockchain technology. However, recent reports claim the Independent candidate will drop out of the race on Friday. According to ABC News, sources close to Kennedy claim that the presidential candidate will endorse former US president Donald Trump after dropping out. Trump embraced the industry this year and later started accepting donations of different cryptocurrencies. Per the report, “One possible scenario being discussed is for Kennedy to appear on stage with Trump at an event in Phoenix on Friday.” Sources familiar to both candidates cautioned that nothing is finalized and “Kennedy’s thinking could always change.” Nonetheless, the news comes days after the Independent candidate revealed he would not endorse US VP and Democratic candidate Kamala Harris. Trump Memecoins Take The PolitiFi Lead PolitiFi tokens surged 15.5% in the last 24 hours, with the price of memecoins inspired by the former US president taking the lead. As the rumors of RFK Jr. endorsement hit, online reports revealed the republican candidate’s chances of winning the election rose again. According to Polymarket’s 2024 Presidential Election Forecast, Trump’s chances rose to 54% after the news, with a 7% lead against Kamala Harris’ chances. Following the news, the largest Trump-themed token, MAGA (TRUMP), saw a massive increase. TRUMP’s price has taken a hit since the end of July when it was trading above the $6 mark. The memecoin retraced below the $3 support zone following the August market crashes, registering a 41.5% drop in the last 30 days. However, TRUMP skyrocketed 55.6% toward the $4.14 mark on Thursday. As of this writing the token is trading at $3.7, a 40% increase in the last 24 hours. Other memecoins inspired by the former US president also saw a significant surge. Related Reading: AAVE Breaks Out Of 2-Year Accumulation Range, Is A Parabolic Run Ahead? After the news, Doland Tremp (TREMP), Super Trump (STRUMP), and MAGA Hat (MAGA) rose 16%, 25%, and 23% respectively. Meanwhile, the KAMA and KEIDY memecoins registered a 30% and 57% price drop in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com

The memecoin FLOKi is leading today’s crypto market with a rally of +12.8% in the last 24 hours, sharing the top spot with Artificial Superintelligence Alliance (FET) which is up +12.2%. The price surge can be several developments and partnerships, most notably involving Binance and the upcoming airdrop of Simon’s Cat (CAT) token. #1 Binance Supports CAT Airdrop To FLOKI Holders Probably the most important factor fueling today’s FLOKI price rally is the announcement that Binance, the leading global crypto exchange, will support the airdrop for Simon’s Cat (CAT). The exchange’s decision to take a snapshot on August 29, 2024, is crucial for the airdrop distribution and has presumably ignited buying pressure from airdrop hunters. According to the official Floki blog: “As initially revealed in our official announcement about Simon’s Cat launch on TokenFi, Simon’s Cat has allocated 20% of the total CAT supply to the Floki community. This strategic move is expected to enhance both the visibility and liquidity of FLOKI tokens across platforms.” Related Reading: End Of The Slump? Floki Eyes A 46% Price Surge — Analyst The upcoming airdrop involves distributing approximately 315 billion CAT tokens, which constitutes 3.5% of the total Simon’s Cat token supply. Eligibility for the airdrop requires holders to maintain a minimum of 400,000 FLOKI tokens, with the distribution proportional to the amount of FLOKI held at the time of the snapshot. #2 FLOKI DAO Approves CAT Reserve Further bolstering FLOKI’s market position is the recent decision by the FLOKI DAO to allocate $200,000 USDT from its treasury for investing in Simon’s Cat Token. This move, approved by 97.72% of voting participants, could enhance the intrinsic value of FLOKI. The official statement released by the FLOKI DAO emphasized: “After a decisive vote by the FLOKI DAO, with 97.72% approval, Floki will allocate $200,000 USDT from the Floki Treasury to invest in the CAT token, which will be held as a strategic asset. This decision highlights our dedication to community-driven governance and decision-making.” #3 Market Sentiment And New Exchange Listing The crypto community has also been abuzz with talks of a new BNB memecoin season, a sentiment that has been supported by FLOKI’s official X account. The team wrote on Wednesday: Related Reading: Floki Inu To Build Schools In India, FLOKI Price Seen Hitting $17 “We’re hearing whispers of BNB season again. Here’s a reminder that FLOKI is the biggest memecoin on the BNB chain by far! Floki is bigger than every other memecoin on the BNB chain COMBINED and is partnered with the BNB chain. We’re excited about the BNB ecosystem and will continue to actively support it!” Additionally, major crypto exchange ByBit added the FLOKI / USDC trading pair yesterday. The exchange revealed the listing in response to strong demand, boosting Floki’s liquidity to over 40 MILLION users. “This addition will make it easier for ByBit’s massive user base to purchase FLOKI and interact with the FLOKI ecosystem,” the memecoin’s team remarked via X. #4 Bullish Chart Setup Technical analysis from popular crypto analyst CRG (@MacroCRG shows a bullish chart setup for FLOKI. The convergence of fundamental developments and technical indicators suggests a strong upward momentum. CRG stated: “FLOKI chart looks fkin delicious. Plus, lots of fundamental tailwinds to ignite momentum: CAT / @SimonsCatMeme launching today (BNB szn loading, FLOKI should be a huge beneficiary as it’s BNB’s flagship meme). Binance also confirmed to be airdropping a big chunk of CAT to FLOKI holders, bullish af. Full send.” At press time, FLOKI traded at $0.00014303. Featured image from X @BlackstarsMKTCR, chart from TradingView.com

Ethereum (ETH) price has struggled amid another market shakeout. The second-largest cryptocurrency by market capitalization fell below the $2,600 support zone for the third time in the past week, prompting crypto analysts to evaluate the next levels to watch out. Related Reading: Is Ethereum Poised for Inflation? Supply Reaches New High as Staking Takes Off ETH’s Key Support Zone To Watch Out The crypto market has seen several retraces throughout the cycle, with cryptocurrencies like Ethereum significantly decreasing from its Q3 opening. Since July 1, the “king of altcoins” has seen a 24% drop from the $3,400 support level. Following its fall below the $2,100 mark during the ‘Black Monday’ crash, ETH has hovered between the $2,300 and $2,700 range. The cryptocurrency has recovered around 18% of its price while tries to reclaim the $2,600 level. Nonetheless, the recent market shakeouts have made the price retest the strength of the $2,500 support zone three times in the last two weeks, which turned experts wary of ETH’s next step. Renowned crypto analyst Ali Martinez stated that investors should pay attention to a key support zone after Ethereum’s performance. To Martinez, the $2,300 and $2,380 price range should be watched if ETH continues its downward trend. According to the In/Out of the Money Around Price (IOMAP) chat shared by Martinez, 1.62 million addresses bought over 50 million ETH at this zone, making it the next wall of support for Ethereum’s price. If the cryptocurrency fails to hold this level, its price could drop to $2,200 and even levels not seen since February. Will Ethereum Drop To $1,200 This Year? Other experts have suggested that the second-largest cryptocurrency could see its price drop even lower, as “even giants will fall.” Top analyst Benjamin Cowen stated that the “collapse of ETH/BTC” is almost completed. A year ago, Cowen forecasted that the collapse of the trading pair would “mark the end of the altcoin reckoning.” He explained that “altcoin reckoning” refers to the devaluation of the altcoins on their BTC pairs. The analyst added that ETC/BTC was the “last one to rise in the bull and it can be the last to fall in the bear.” To him, this trading pair has four more months before it goes up next year. Additionally, Cowen predicted that Ethereum’s price could hit the $1,200 price range in December if its performance is similar to the last two cycles. Crypto investor Ted Pillows urged investors to hold on throughout the troubled waters, suggesting that a $10,000 is still possible. To the trader, the ‘King of altcoins’ is not dead based on different factors. Ted highlighted that spot Ethereum exchange-traded funds (ETFs) inflows have increased while Grayscale outflows have progressively gotten smaller, and Jump Trading has only around $60 million in ETH to sell. Related Reading: Will Bitcoin (BTC) Trade Back Above $70,000 By September? Analysts Weigh In Moreover, ETH is “strongly holding its support level,” which he deemed the most important factor. Ultimately, the investor Predicts that the consolidation breakout will occur between November and December, while the “parabolic run” will start in Q1 2025. Featured Image from Unsplash.com, Chart from TradingView.com

Bittensor (TAO) has been one of the best-performing AI (Artificial Intelligence) tokens this cycle after surging 180% during Q1 2024. The token has significantly retraced from its march all-time high (ATH) and is currently testing key resistance levels. Some crypto analysts seem unsure about TAO’s short-term performance but remain bullish long-term. Related Reading: Buying The Dip: PEPE Price Recovers 10% As Whales Load Their Bags Bittensor To Lead The ‘AI Wave’? Bittensor Protocol’s token TAO recently saw a major downturn following the broader market retrace. The token, which had recovered the $300 mark in July, faced a significant correction as August started. The price decline deepened on August 5, falling below the $180 level. As the crypto market recovered, TAO’s price surged over 75% from its lowest point last Monday. The token retested the $300 resistance level over the weekend but failed to hold it as the market saw another crash this Monday. Bittensor’s native token registers a 10% drop from its Friday price of $315, which seems to have left some investors and market watchers pondering TAO’s short-term performance. According to renowned analyst Altcoin Sherpa, the AI token might experience another 25%-30% drop soon. To Sherpa, TAO’s “bearish market structure is still there,” which could drive the price below the $200 support level again “pretty soon.” Additionally, the analyst wonders whether AI tokens like TAO will outperform most of the market “like they did in early 2024.” Nonetheless, Gonzo, another market watcher, believes that the token will “lead the AI wave” in the coming months. Replying to Sherpa, the investor suggested that TAO might need to move sideways for a while and “hope that BTC doesn’t dump” to start a new uptrend. Gonzo also considers that Grayscale “might dump it hard to get in cheap” but “will pump it to make money” after launching its Bittensor fund. As reported by NewsBTC, Grayscale Investments announced the offering of its new crypto fund, the Grayscale Bittensor Trust, last week. No Clear Direction For TAO Short-Term Crypto trader Pidgeon analyzed TAO’s long-term performance, finding an unclear path in the shorter timeframes. Per the post, the chart displays a “big head and shoulders” pattern in the weekly timeframes. To the analyst, this pattern, which suggests a trend reversal, “remains completely irrelevant as long as Bittensor holds the $200 support area.” He considers that the chances of TAO holding this level significantly increased after “Monday’s major fakeout and liquidity sweep.” Additionally, Pidgeon highlighted that the token is moving within a clear range between the $210 and $360 levels in the daily timeframe, where the token has previously consolidated. The trader considers there won’t be “major direction until either side breaks.” To break from the downtrend, TAO must reclaim the $310 level before retesting the $360 mark. If it breaks above the $360 trendline, the token’s price could retest the $480 and $570 resistance levels before trying for a new ATH. Related Reading: Ethereum Nears Key Bearish Triangle Apex: Breakdown To $2,160 Target Looms If it fails to hold above the $200 support zone, it might “revisit the wick lows down around $160” and even go as low as $90. Nonetheless, he identified a lower high structure “that it has been stuck in for months” and that “tends to break to the upside.” Ultimately, the trader stated he’s leaning bullish med-long term, but it will depend on “which side of the range it breaks.” As of this writing, TAO is trading at $277, a 4% drop in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com

In a new essay, Arthur Hayes, the co-founder of crypto exchange BitMEX, has outlined a bullish future for Bitcoin and altcoins. His analysis, focused on the interplay between government liquidity operations and asset prices, suggests a looming bull market in the crypto space, driven by strategic fiscal maneuvers by the US Treasury. When Will The Bitcoin Bull Run Return? Hayes compares the quality of water in brewing coffee to the liquidity in financial markets, illustrating that just as the quality of water is crucial for making a good cup of coffee, liquidity is essential for the health and movement of financial markets. Hayes pointed out that many investors underestimate the impact of liquidity and often focus narrowly on more visible factors like technological advancements or regulatory changes. Hayes explains the concept of “fiscal dominance,” a situation where the government’s need to finance itself supersedes all other economic considerations, including the control of inflation. He specifically critiques the current policies under US Treasury Secretary Janet Yellen, whose tactics, according to Hayes, focus on generating nominal economic growth regardless of the inflationary outcomes. Related Reading: BTC’s Next Objective? Analyst Eyes Crucial $70,000 Resistance Zone For Bitcoin “During a period of fiscal dominance, the necessity to fund the state overrides any concerns the central bank may have about inflation,” Hayes explains. He details how this shift impacts liquidity, stating, “That means bank credit and, by extension, nominal GDP growth must be sustained at high levels even if it results in persistently higher than target inflation.” Drawing a direct connection between Treasury actions and crypto market movements, Hayes highlighted the correlation between the issuance of Treasury bills (T-bills) and Bitcoin price movements. He noted that when the Treasury increases T-bill issuance, it effectively shifts liquidity from instruments like the Reverse Repo Program (RRP) into more active uses, which historically corresponds with increases in Bitcoin prices. “As the RRP (white) fell from its high, Bitcoin (gold) pumped off the lows. As you can see, it’s a very tight relationship. As money leaves the Fed’s balance sheet, it adds liquidity, which causes […] Therefore, taking Bad Gurl Yellen’s word, we know that $301bn of T-bills will be net issued between now and year-end. If this relationship holds true, Bitcoin will quickly retrace the dump caused by the yen strengthening. The next stop for Bitcoin is $100,000″ Hayes speculates. When Altcoin Season? Therefore, Hayes advises crypto traders to pay close attention to fiscal and monetary policies, especially the actions of the US Treasury, as these are often precursors to significant market movements. Monitoring T-bill issuance and Treasury maneuvers can provide crypto investors with clues about upcoming shifts in market liquidity and potential price movements, according to Hayes. Related Reading: Bitcoin Investors Again Show Extreme Fear As BTC Slips To $59,000 Shifting focus to the broader crypto market, Hayes also discusses the potential for an ‘alt szn’ or altcoin season, which he predicts will follow a rally in Bitcoin and Ethereum prices. “Shitcoins are higher beta Bitcoin crypto plays. But during this cycle, Bitcoin and now Ether have structural bids in the form of net inflows into US-listed exchange-traded funds (ETF). While Bitcoin and Ether have corrected since April, they escaped the carnage experienced in the shitcoin markets.” Commenting on the potential of a full blown altcoin season like in previous cycles, Hayes assures that the time will come. However, altcoin season will only return after Bitcoin and Ether “decidedly break through $70,000 and $4,000, respectively.” He adds, “the combination of a dollar liquidity-inspired Bitcoin and Ether rally into year-end will create a strong foundation for the return of a sexy shitcoin soiree.” Interestingly, Hayes plans to capitalize on the US elections. He expects that the crypto bull run will exit its “sideways-to-downward trajectory” in September. “The US election occurs in early November. Yellen will be at peak manipulation in October. There will be no better time for liquidity this year. Therefore, I shall sell into strength. I will not liquidate my entire crypto portfolio but take profits in my more speculative momentum trades,” he revealed. Hayes further anticipates a more substantial market adjustment post US election and the US debt ceiling resolutions, “Once the US debt ceiling charade is over, liquidity will gush from the Treasury and possibly the Fed to get markets back on track. Then, the bull market will begin for realz. $1 million Bitcoin is still my base case.” At press time, BTC traded at $58,783. Featured image from YouTube, chart from TradingView.com

Although the market dipped today, Solana has found its way to spark investor interest despite falling a few points in the past 24 hours. However, the token is still up nearly 22% in the past month, going against the market’s general bearishness after last week’s slip and slide.  Related Reading: XRP Price Reaches Support: Will It Trigger a Turnaround? Solana’s significant traction around the world has garnered some attention in the institutional space, leading to a development that might help SOL weather the bearish storm ahead. But with the coming announcements of several macro indicators, there might be trouble in the coming weeks.  Brazil Approves Solana ETF, Coming Ahead Of The USA The Comissão de Valores Mobiliários (CVM), the Brazilian equivalent of the US Securities and Exchange Commission, approved QR Asset’s Solana exchange-traded fund (ETF) proposal on Wednesday becoming the first ever Solana ETF in Latin America. This development surpasses the United States as several Solana ETFs are still up for review by the SEC.  According to local sources, the ETF is still subject to approval by B3, the company responsible for the country’s stock exchange. Nonetheless, this is a huge win for Brazilian crypto-enthusiasts as it solidifies the country’s position in the international crypto scene.  “This ETF reaffirms our commitment to offering quality and diversification to Brazilian investors. We are proud to be global pioneers in this segment, consolidating Brazil’s position as a leading market for regulated investments in crypto assets,” Theodoro Fleury, Manager and Chief Investment Officer at QR Asset, said in an interview.  SOL Consolidation Phase Starts, Price To Stabilize On This Level Regulatory hurdles are the thing that block Solana ETFs from hitting the market. Although the SEC already pulled Solana’s name from its legal action against Binance, Solana ETFs in the US are still a long way ahead. But the market reacted spectacularly well from the Brazilian Solana ETF announcement.  Although short term pain is relatively stingy, SOL’s position is quite healthy as the $131-$147 price range remains to be the bulls’ chosen platform for future upward movement.  Meanwhile, World of Charts, a well-known cryptocurrency analyst, has identified the presence of a bullish pennant pattern. This pattern typically occurs after a significant upward price movement and is characterized by converging trendlines that resemble a symmetrical triangle. This pattern indicates a temporary halt in the market before continuing the current upward trend. ETF: Boon Or Bane? The ETF announcement has definitely hurt the bears, which further reduced the possibility of further downturn. Moving forward, investors and traders should watch the broader market developments that may or may not affect the token’s price movement. In this case, watching how institutional entities grow in interest on Solana– and crypto as a whole– is a great place to start.  Related Reading: SUI Leads Crypto Market With 78% Weekly Uptick: Here’s Why SOL’s potential is in the long term with developments like this that may take place weeks, or even months, after the initial announcement. As of now, SOL is weathering the bearish storm well as the consolidation phase opens the road toward $171 or even $186.  However, expect this consolidation phase to be short as the market continues to experience moderate volatility in the short term.  Featured image from Marca, chart from TradingView

Over the past seven days, Sui (SUI) has emerged as the standout performer in the crypto market, recording an massive 78% increase in its price. This surge positions SUI as the leader among the top 100 cryptocurrencies by market capitalization, significantly outperforming its peers, Helium (HNT) with a 60% increase and Bittensor (TAO) at 50%. Why Is SUI Up Over The Past Week? Andrew Kang, the founder of Mechanism Capital, provided insights into the SUI’s recent success in a series of posts on X. Kang suggested that the bullish trend could be attributed to several factors including a notable endorsement from influential figures, substantial over-the-counter (OTC) bids, robust holdership even after significant token unlocks, and a recent technical upgrade that could pave the way for innovative applications on the SUI platform. Related Reading: SUI Explodes 30% After Crypto Market Shows Signs Of Life “No knowledge of anything actually happening but combination of the below leading me to bet that there’s some interesting developments upcoming for SUI,” Kang posted. He listed several indicators supporting his optimistic outlook: “1. Raoul Pal shill thread while he sits on advisory board 2. Large OTC bids 3. Relatively strong holdership through big unlocks 4. Aggressive price action with no pullback 5. Big recent performance upgrade with Mysiceti potentially allowing for interesting new apps.” These points collectively hint at a buoyant market sentiment and substantial backing from influential market players. In a subsequent post, Kang touched on the promotional strategies surrounding SUI, noting, “Many people commenting that they are giving grants to people to shill. If true, this is bullish.” Related Reading: Crypto Scam? PolitiFi Token RTR Plummets 95% After Trump Family Denies Link The aforementioned Raoul Pal, founder/CEO of Global Macro Investor and RealVision and member of the advisory board of the Sui Foundation, recently praised SUI as a “groundbreaking ultra-fast L1, super efficient, full blockchain ecosystem” developed from the remnants of Meta’s Diem project, aimed at scaling to accommodate billions of users transitioning from Web2 to Web3 technologies. From a technical perspective, he added: “SUI is starting to look very interesting from a price perspective, although still early and unconfirmed, it is showing signs of breaking out against most tokens,” Pal noted. This includes comparisons against Aptos (another MOVE language L1 project), Avalanche (AVAX), Tia (TIA), Near Protocol (NEAR), Bitcoin (BTC), and Solana (SOL).” The week also saw institutional support further bolstering SUI’s market position. Grayscale, a leading digital currency asset manager, announced the introduction of the Grayscale Sui Trust. This new fund is solely dedicated to SUI, providing accredited individual and institutional investors with a structured vehicle for investing in this rising cryptocurrency. “We are excited to add Bittensor and Sui to our product suite, and believe Sui is redefining the smart contract blockchain,” stated Rayhaneh Sharif-Askary, Grayscale’s head of product and research. At press time, SUI traded at $0.9149. Featured image from Chainwire, chart from TradingView.com

Cronos is currently riding the bullish wave, seeing significant gains despite the momentum of the general market slowing down. According to Coingecko, the token is up more than 12% since last week, going against the grain of the general market momentum.  Related Reading: Ethereum Vs. Solana: Legendary Trader Peter Brandt Reveals The ‘Clear Winner’ This week, Cronos has spurred investor interest as it creates momentum for its upcoming Cronos zkEVM mainnet alpha launch on August 15th.  Cronos zkEVM Set To Launch With Major Partners The official Cronos X account has announced that the mainnet of its upcoming Cronos zkEVM will be released in its alpha stage on August 15 next week. This will be the platform’s dedicated layer 2 for Ethereum, leveraging Ethereum’s security while maintaining Cronos chain interoperability.  The Cronos zkEVM public mainnet (alpha) launch date is targeted for August 15. Cronos’ newest, future-proof blockchain network is almost ready to go live. On Aug 15, users will be able to connect their wallet, bridge funds, and use a large and growing number of dapps. What are… https://t.co/aYOdM7FKAS pic.twitter.com/UM3zPWJfO3 — Cronos (@cronos_chain) August 8, 2024 Cronos also secured multiple launch partners for the zkEVM, each of which will help in improving user convenience as the developers work out the L2’s kinks in the first couple of months. Partners like the Earn Network and Pyth Network will enable users to use the alpha mainnet with little to no hiccups.  Eli5DeFi also released a post explaining the advantages of the upcoming layer 2. With Cronos zkEVM’s high throughput, native account abstraction, shared liquidity, and native yield-bearing assets, the platform is set to have a great time on launch day.  As the @cronos_chain mainnet launch approaches, let’s revisit what sets Cronos zkEVM apart. Dive into our full breakdown in the previous post! Learn more here ⬇️https://t.co/lXeHxKBRH9 https://t.co/ZOhxuwTAnh pic.twitter.com/xVtfye8BnU — Eli5DeFi (@eli5_defi) August 8, 2024 Launch Week Might Post Some Gains For CRO  CRO bulls are currently attempting to break through the $0.0950 ceiling after rising yesterday due to the positive on-chain news. Right now, the token will have a strong upward momentum once next week starts. Macro-wise, the market still has significant influence on CRO despite the network’s announcement. As of writing, the market has plateaued as it returned to pre-dip levels. This relative stability can turn either good or bad for CRO and the general market. Its relatively significant correlation with Bitcoin might shed some light on how it will perform which in turn gives CRO a relationship with traditional finance. With the market keeping a positive position on the state of the economy, it might seem logical that a strong increase in prices in private equity might translate to gains on CRO and the crypto market as a whole. Related Reading: XRP Market Cap Explodes By 23% In A Day As Whale Appetite Soars As the market posts modest gains after the rebound, CRO is on a great position to capture value and momentum moving in and out of its network and the momentum of the general market.  Investors and traders should be informed that investing on CRO now before the update is for the long term as anything can happen on the market and on the day of launch of the Cronos zkEVM. However, if the bullishness continues we might see the token breach above $0.1223 in the long term. Featured image from Forbes, chart from TradingView

This week, a new PolitFi token made the headlines amid the crypto market recovery. Restore The Republic (RTR) caught the attention of investors after rumors of being linked to the Trump family surged. The Trump-themed token saw a massive surge after its launch. However, its price quickly plunged after the former US president’s camp denied any links with it. Related Reading: Toncoin Soars 14.8% After Binance Listing, Is TON Poised For A Breakout? Trump-Themed Token Turns Out Fake On Thursday night, a PolitiFi token was surrounded by controversy after it plummeted by over 95% just hours after launching. Restore The Republic was described as a token to “ensure that our nation remains a beacon of freedom, justice, and opportunity.” The memecoin created a buzz among investors as it was suspected to be the Trump Family’s highly anticipated crypto project announcement. As a result, RTR’s price surged over 14,500% following its launch, going from trading at $0.001 to as high as $0.15. The token also hit a market capitalization of $155 million three hours after launching. However, the rapid surge was quickly met with a massive drop after Eric Trump claimed the project wasn’t related to the former US president. In an X post, Eric warned crypto investors of fake tokens, stating that “the only official Trump project has NOT been announced.” He also emphasized that the news would come directly from their camp first. Immediately after, RTR’s market cap nosedived, going from $125 million to $13 million. The token went from trading around the $0.12 mark to $0.007 in less than an hour, leaving many investors with massive losses. On-chain data analysis firm Lookonchain revealed that a crypto whale lost over $800,000 after FOMO-buying the token. Per the report, the investor spent 5,800 SOL, worth $916,400, to buy 7.2 million RTR at its highest price. Due to the price crash, the whale sold the RTR tokens for only 118 SOL, worth around $18,000, resulting in a loss of $898,500 in four hours. Crypto Scam Déjà Vu Online reports revealed that insiders made over $4 million from the memecoin. The newly created wallets bought millions of RTR as it opened trading. The insiders sold the token right after Trump’s camp denied ties to the memecoin. After the price crash, the crypto community discussed the token’s shady launch and promotion. Students for Trump group’s co-founder and chairman, Ryan Fournier, suggested in a now-deleted post that RTR was the official Trump token. Moreover, several KOLs (Key opinion leaders) promoted RTR to their followers, claiming it was the highly anticipated Trump project. After the collapse, some of these influencers affirm to have lost large sums of money. One KOL also claims to possess “legal documentation” that proves Donald Trump Jr.’s involvement with the launch. The crypto community quickly compared this incident to the last “official” token linked to the Republican presidential candidate. Nearly two months ago, DJT made the headlines after being rumored to have been launched by 18-year-old Barron Trump. At the time, other Trump-inspired tokens crashed by over 30%, including the MAGA (TRUMP). However, it was later revealed that the token was created and run by “Pharma bro” Martin Shkreli. Related Reading: Solana Faces Uncertainty: Expert Explains Impact Of Jump’s Rumored Exit Following the RTR debacle, Donald Trump Jr. spoke about cryptocurrencies inspired by his father. He stated that he has “nothing to talk about” regarding these tokens. He also deemed people assuming that all Trump-themed tokens are linked to the family as the problem. The businessman clarified that he loves and respects memecoin culture, but they are not the crypto project they have been teasing. Featured Image from Unsplash.com, Chart from TradingView.com

The community for Chainlink (LINK) has hope thanks to Alan Santana, a famous cryptocurrency expert, who says that the token may soar in the next few months. Even though there are some negative signs as we speak, Santana believes that LINK’s price will go up a lot during the next bull market, possibly hitting an all-time high. Related Reading: Bitcoin NVT Golden Cross Gives Bottom Signal: What Happened Last 2 Times Santana’s prognosis is hinged on LINK’s key acquisition period, which preceded the 2021 bull market. He calls 2023 a “recovery year,” with numerous cryptocurrencies tallying decent price gains but not a bull market. The analyst predicts a “huge” bull run by 2025 that could push LINK above $135. At the time of writing, LINK was trading at $10.60, up 6.1% in the last 24 hours, but sustained a 15.4% drop in the weekly frame, data from Coingecko shows. ✴️ ChainLink Pre-2025 Bull-Market Accumulation Zone & Strategy Hello my dear friend, Notice the huge difference between the bullish wave in 2021 vs the bullish wave in 2023! This is why I dubbed 2023 the “recovery year.” Last year many Altcoins produced a nice wave, a recovery… pic.twitter.com/DTF977g5yT — Alan Santana (@lamatrades1111) August 8, 2024 Current Market Conditions Despite the fact that Santana is hopeful about the future, the present state of the market indicates that this is not the case. In comparison to the previous day, the price has decreased by 3.44%, and it is now trading at $10.04. The 50-day and 100-day Exponential Moving Averages (EMAs) are currently coming up at $13.072 and $14.071, respectively, which suggests that technical indicators point to a significantly more bearish situation than the current price. Analyst Advocates ‘Buy And Hold’ Approach In light of these contradictory signals, Santana has recommended a “buy and hold” strategy to LINK investors. In times of market depression and uncertainty, he suggests, it is the perfect time to start, as he stresses patience above complex technical analysis. Santana claims that these are the times when long-term investors could protect their holdings before the market becomes euphoric and greedy. This approach is especially pertinent considering Santana’s forecast that the prolonged accumulation period for LINK will filter out short-term investors. Once the next bull market starts, he thinks this screening process will set the stage for exponential expansion. Near-Term Trend Looking Up More information comes from the crypto prediction platform CoinCheckup. It shows that LINK will go up soon. The platform says that there could be a big 89% growth in the next six months, even though the market price is 3.15 % lower than what it predicted would happen in the next 30 days. This prediction is based on rising demand and positive developments in the Chainlink environment. Related Reading: ARB Surges Nearly 10% As Franklin Templeton Launches Fund on Arbitrum Looking forward, CoinCheckup also projects an 87.57% increase for LINK over the next year, which reflects ongoing investor confidence as the wider crypto market develops. The underperformance in the short term, however, points to possible volatility—probably either from market swings or investor profit-taking. Featured image from Pexels, chart from TradingView

Toncoin (TON), the native token of The Open Network, has been one of the best performers this cycle. The token registered a 200% surge in the last six months, flipping Dogecoin (DOGE) by market capitalization. As a result, the crypto exchange Binance announced the listing of TON on August 8, which propelled the price by over 10%. Related Reading: Ethereum On The Move: Dormant ETH Wallets Linked To $4 Billion Scam Awaken Toncoin Soars 14% After Binance Listing On Thursday, Binance, the largest crypto exchange by trading volume, announced it would list TON on the trading platform. The exchange stated that the seed tag, used for projects with higher volatility and risks than others, would be applied to the token. Binance announced it would open trading for four new spot trading pairs on August 8 at 10:00 UTC. The pairs include TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY. Additionally, the exchange added Toncoin to Binance Simple Earn, “Buy Crypto,” and Binance Convert. Meanwhile, TON withdrawals won’t be available until Friday. The telegram-integrated token will also be added to Binance’s Margin and Auto-Invest services on Monday, August 12. Following the listing, Toncoin saw an initial 14% increase, reclaiming the $6 support zone. The token surged to the $6.4 area before retracing to the $6.3 mark. Moreover, TON’s market activity increased by over 239% in the last 24 hours, with a daily trading volume of $1.3 billion. TON Tests Key Levels Following the recent surge, investors and market watchers have weighed in on TON’s price action. Trader AltCryptoGems highlighted that Toncoin was “outperforming today” with a “very nice pump from support.” Per the chart, TON bounced from the $5.4 support area to the $6.3 resistance level. If the token fails to reclaim this level, its price could lose momentum and dip to the previous support zone or lower. However, a successful retest of the key $6.3 mark could drive the price above $6.4. This could lead the token to break out of the downtrend line and propel the price towards TON’s ATH. The trader suggested avoiding “chasing green candles, especially above key resistance levels.” Instead, he advised that investors monitor the token’s reaction as “it is an interesting area to do some business.” Similarly, Altcoin Sherpa warned investors about TON despite being bullish. To the analyst, it’s “still a great chain/project.” However, Sherpa considers that the project needs more adoption even if “there are a lot of builders going on there lately.” “I think TON is still bullish for this cycle but wouldn’t be rushing to buy at current prices,” stated the analyst. Related Reading: Solana (SOL) Bounces 30% Amid Market Recovery, Analysts Remain Bullish Toncoin displayed one of the strongest performances this cycle so far, reaching its ATH of $8.25 two months ago. The token has neared the $6.4 resistance level, hovering between the $6.35 and $6.38 price range in the past hour. As of this writing, TON is trading at $6.37, a 14.8% increase in the last 24 hours. Featured Image from Pinterest, Chart from TradingView.com

Currently at a turning point is Dogecoin (DOGE), the cryptocurrency that started as a joke but has lately attracted the interest of traders. Analysts and investors are keenly observing its price movements, if it can overcome a significant barrier. The $0.10 mark has emerged as an interesting number as some analysts think it will set in motion the meme coin to a fresh positive phase. Related Reading: Polkadot Developments Show Strength, Despite Coin’s 18% Loss A recent examination by Crypto Daily Trades Signals indicates that Dogecoin has demonstrated amazing endurance, especially when it recovers from critical support levels. According to Crypto Daily Trades, DOGE is now looking stronger and emerging from key support levels. He said “$0.10 Is a key area for us now. Since the bottom DOGE is up about 15%.” Popular crypto analysis tool Coincheckup, on the other hand, also emphasizes the significance of the $0.10 level and notes it as a possible starting point for further developments. Now the issue is if DOGE can maintain its speed and reach this threshold, therefore enabling notable price increase. $DOGE is looking stronger and coming up from Key Support levels. $0.10 Is a key area for us now. Since the bottom DOGE is up about 15%. Expect massive gains once we break $0.10 cents pic.twitter.com/Hrk9QwXuAx — Crypto Daily Trade Signals (@cryptodailyTS) August 7, 2024 $0.10: The Critical Threshold For Dogecoin, the $0.10 price point has become a critical threshold that both acts as a psychological barrier and a main gauge of future development capacity. Analysts at Coincheckup advise breaking over this level might cause a strong upward trend, maybe resulting in significant increases for DOGE investors. Market watchers’ identification of a triangular breakout pattern adds even more evidence for a positive surge’s probability. Still, landing $0.10 will not be without difficulties. The market is still erratic, hence even if Dogecoin has shown tenacity, it has to overcome this opposition if it is to keep on its upward path. A good break over this key level might signal the start of a new growth phase, therefore strengthening Dogecoin’s place in the larger crypto scene. At the time of writing, DOGE was trading at $0.09999, 0.8% in the last 24 hours, but sustained a 17.1% decline in the last seven days, data from Coingecko shows. Investor Sentiment And Market Influence The coin’s capacity to remain consistent in times of market downturns has given it a reputation as a “rugged” digital asset capable of withstanding volatility. This resiliency has inspired expectations that DOGE is headed for future expansion, particularly if it can keep up its present upward tendency. The direction ahead for Dogecoin will be much influenced by market dynamics. The wider cryptocurrency market has been characterized by uncertainty; several digital assets show significant price movements. Dogecoin has shown really good performance in spite of these factors, suggesting that it could be less influenced by more general market developments. DOGE is under intense observation by Coincheckup and other experts; many of them believe that a breakthrough over $0.10 would cause more purchasing demand and higher prices. Related Reading: Aave Protocol Unfazed By Market Jitters, Surges 21% Long-Term Outlook And Growth Potential Though growth is likely to drop to 64.81% over six months and 58.02% over the following year, a 109.84% rise in the next three months is projected. This implies that even if Dogecoin may keep increasing, it might run up against some obstacles at important psychological levels. Investors should be advised of the possibility for consolidation when the price of Dogecoin approaches these benchmarks. Still, the general attitude is positive; DOGE is a cryptocurrency worth keeping careful attention in the next weeks. Featured image from Pexels, chart from TradingView

Grayscale Investments, one of the world’s largest crypto asset managers and exchange-traded fund (ETF) issuers has unveiled its latest offerings. On Wednesday, the company announced the launch of two new crypto mutual funds: the Grayscale Bittensor Trust and the Grayscale Sui Trust. Grayscale Unveils Bittensor And Sui Trusts According to the announcement, the Grayscale Bittensor Trust is exclusively dedicated to TAO, the token supporting the Bittensor Protocol, which incentivizes the advancement of open-source artificial intelligence (AI) technologies. In parallel, the Grayscale Sui Trust focuses solely on SUI, the token underpinning the Sui protocol, a Layer 1 (L1) smart contract blockchain designed to facilitate globally scalable decentralized applications. Related Reading: Tron Lost 10% Since Last Week – Is There A Saving Grace Ahead? Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, expressed enthusiasm about the new additions, emphasizing the “pivotal roles” Bittensor and Sui play in the decentralized AI and smart contract blockchain realms, respectively. Sharif-Askary said: With the launch of Grayscale Bittensor Trust and Grayscale Sui Trust, we continue to provide investors with familiar products that enable access to tokens at the cutting edge of the crypto ecosystem’s continued evolution. These newly launched Trusts are now available for daily subscription by eligible individual and institutional accredited investors, operating similarly to Grayscale’s existing suite of single-asset investment trusts.  Notably, they represent some of the first investment products exclusively focused on the tokens underpinning the Bittensor Protocol and Sui. In Wednesday’s announcement, Grayscale also confirmed its intention to seek a secondary market listing for the new products. Still, it cautioned that success was not guaranteed, with regulatory considerations posing potential challenges. SUI & TAO Price Analysis Following the asset manager’s announcement, the two tokens present a stark contrast in price action following the broader market crash experienced over the weekend and exacerbated on Monday.  For instance, the SUI token hit a 9-month low of $0.4636 on August 5th, following a steady decline from its all-time high of $2.17 in March of this year. However, SUI has climbed back to the $0.6166 level since Monday, with a 3% increase in the last 24 hours, with its next resistance wall at $0.6966. Related Reading: Cardano Price Crash Below $0.3: Is It Time For You To Buy ADA? On the other hand, the TAO token has been unable to post gains in recent weeks, registering a 24% price drop in the fourteen-day time frame. Despite this, TAO has rallied significantly to the $253 level on Wednesday after falling to the $164 level on Monday.  In the case of another leg up to regain previously lost levels, the most insignificant hurdle in the near term is placed at the $300 level, which is key for bullish investors in the token to approach the all-time high of $757 reached in March.  Featured image from DALL-E, chart from TradingView.com

As the rebound in some sectors of the crypto market slows, Polkadot (DOT) has captured some momentum garnering the attention of some investors that grabbed it at a discount. According to CoinGecko, the token is up almost 6% today, with the rebound slowing to a mere 2% increase since yesterday. However, this has not deterred investors from keeping their eyes on DOT as it slowly makes its way upward.  Related Reading: Bloody Monday: Cardano Not Spared From Bloodbath, Suffers 30% Loss This is partly due to Polkadot’s continuing on-chain developments that helped ease market anxieties after the broader sell-off that happened this week. We might see more positive movement in the coming days investors and traders are convinced that the sell-off is a one-of-event.  Tuning In To On-Chain News For Polkadot  On-chain, the Polkadot’s parachains are actively contributing to the network’s overall growth. Polkadotters, an X account dedicated to sharing Polkadot developments, shared several developments this week. Bifrost’s July report is among the developments that show incredible growth for the protocol.  The monthly report shows that Bifrost grew by a substantial margin. By the end of July, Bifrost had a total of $80.8 million in total value locked (TVL) and over 8 million voucher DOT (vDOT) minted. vDOT is the protocol’s representation of DOT staked on the platform and according to this high number, DOT is an active token used in staking on Bifrost.  Peaq, a parachain focused on decentralized physical infrastructure networks (DePIN), secured a partnership with Roam, a fellow DePIN-focused platform. The partnership covers Roam’s launch of its network and native token on the Peaq ecosystem, contributing to Polkadot’s growth through increasing activity on Peaq and its network.  DOT Tries To Breach $4.61 DOT is currently attempting to break through the $4.61 ceiling, resuming yesterday’s action by trying to flip the ceiling to a solid support level. However, this maybe thwarted by the bears as the market currently favors the downward pressure felt by investors and traders in the short term.  Despite this, positive developments can alleviate the shaken confidence brought by the market’s sharp decline this week. The only question remaining will be how big the gains can be if the rebound continues.  If DOT bulls are successful in this breakthrough, the token will have the necessary foundation for future upward movement. Bulls can emulate DOT’s movement in late 2020 where they settled on $4.61 before the market’s bull run. However, market volatility will still be a huge problem for DOT’s performance. Related Reading: Aave Protocol Unfazed By Market Jitters, Surges 21% If the major cryptocurrencies continue their rebound to pre-overreaction levels, then there might be a chance for DOT to reclaim $6.16 in the long term. Until then, investors and traders should remain cautious of the token’s position and momentum as it can be susceptible to a swing downward. Featured image from MoneyWeb, chart from TradingView

In his latest essay “Spirited Away,” Arthur Hayes, the former CEO of BitMEX, dives into the complexities of the global financial markets, with a focus on the impending unwinding of the dollar-yen carry trade and its impact on the crypto market. Hayes begins by discussing the potential actions of the US Vice President Kamala Harris in response to an impending financial crisis, influenced by her need to secure electoral victory. He predicts, “Harris will instruct Yellen to use the monetary tools available to her to avert a financial crisis,” suggesting an immediate response to stabilize the markets expected “no later than the opening of Asian trading next Monday, August 12th.” Related Reading: Bitwise CIO Believes The Crypto Crash Sets The Stage For Bitcoin To Thrive – Key Reasons Why The analysis revolves around the ‘yen carry trade,’ where Japan Inc. borrows yen at low rates to invest in higher-yielding foreign assets. This trade has been massively profitable due to the Bank of Japan’s (BOJ) policies that keep yen liabilities low and asset returns high, facilitated by a weak yen. However, Hayes points out the vulnerabilities of this strategy: “If the BOJ ceases its bond purchases, the unwinding could lead to significant yen appreciation and a corresponding decline in global equity markets.” Hayes outlines the potential dire consequences of a sudden strengthening of the yen, predicting drastic impacts on global stock markets. He quantifies these impacts, stating, “If the dollar-yen reached 100, a 38% move, the Nasdaq would drop to ~12,600 and the Nikkei to ~25,365,” indicating severe repercussions for global financial stability. According to the former BitMEX CEO, the full unwind of the dollar-yen carry trade is a question of when, not if. “The question is when the Fed and Treasury will print money to blunt its effects on Pax Americana,” he adds and describes a scenario where the US equity markets could crash into this upcoming Friday. “Then some sort of action over the weekend is probable,” according to Hayes. He further theorizes on a more long-term scenario: “If the yen starts to weaken again, the crisis is over in the immediate term. The unwind will continue, albeit at a slower pace. I believe the markets will throw another tantrum between September and November as the dollar-yen pair resumes its death march toward 100. There will definitely be a response this time around, as the US presidential election will be weeks or days away.” How To Trade Crypto In This Environment Hayes describes the situation as complex due to two conflicting liquidity forces. “Trading this in a crypto fashion is difficult. Two opposing forces influence my crypto positioning,” he states. First, there is the “Liquidity Positive Force”. This force emerges from the US Treasury’s potential actions, which could inject significant dollar liquidity into the market. Hayes notes, “After a quarter of net restrictive policy, the US Treasury will net inject dollar liquidity because it will issue Treasury bills and possibly deplete the Treasury General Account.” This influx of liquidity could buoy markets, including cryptocurrencies, by providing more capital for investment. Related Reading: Why The 4-Year Crypto Cycle Is A Thing Of The Past: Top-Analyst Conversely, the strengthening of the yen (“Liquidity Negative Force”), driven by the unwinding of the carry trade, would necessitate a global sell-off of financial assets as higher yen costs make debt servicing more expensive. This force could lead to a withdrawal of liquidity from markets, exerting downward pressure on asset prices, including cryptocurrencies. Hayes proposes that the interplay of these forces will dictate the behavior of Bitcoin and other cryptocurrencies. He categorizes potential outcomes into two scenarios: Convex-Bitcoin Scenario: In this scenario, Bitcoin could rise in value regardless of whether the dollar-yen pair strengthens or weakens, indicating that the market expects a bailout if the yen strengthens and that the liquidity provided by the US Treasury is sufficient to counteract the negative impacts. Correlated-Bitcoin Scenario: Here, Bitcoin’s price movements would align closely with traditional financial markets. A strengthening yen would lead to a fall in Bitcoin prices, and a weakening yen would result in a rise, mirroring the liquidity shifts in traditional finance. “If the setup is convex-Bitcoin, I will aggressively add positions as we have reached the local bottom. If the setup is correlated-Bitcoin, then I will sit on the sidelines and wait for the eventual market capitulation. The mega assumption is that the BOJ will not reverse course, cut deposit rates back to 0%, and resume unlimited JGB purchases. If the BOJ sticks by the plan it laid out at its last meeting, the carry trade unwind will continue,” Hayes concludes. At press time, BTC traded at $57,200. Featured image from YouTube, chart from TradingView.com